The British Land Company PLC and Rosemound Developments Limited joint venture has secured a major pre-let to Tesco at DIRFT, Daventry.
The British Land/Rosemound joint venture is to build a 750,000 sq ft (70,000 sq m) distribution warehouse, including 35,000 sq ft of offices, for Tesco Stores Limited which has taken a 15 year lease. Construction will start immediately and the building, with a clear height of 64 ft (19.5 metres) and 97 docking points, will be complete by November 2005 allowing it to be operational before Christmas.
This letting takes the total space pre-let on the JVâs 74 acre freehold site at DIRFT to 1.05 million sq ft in the year since British Land/Rosemound acquired the site in March 2004.
David Keir, Managing Director of Rosemound, says, "We are delighted to announce this pre-let. We acquired DIRFT this time last year and on top of the Exel/Mothercare transaction for 300,000 sq ft in November 2004, this reinforces DIRFT as one of the countryâs top distribution locations."
Nigel Webb, Head of Developments at British Land, says, "We are very pleased to have secured a further pre-letting so soon after acquiring this site. This letting further reinforces DIRFTâs status as one of the Countryâs leading distribution locations and is a further example of BL Rosemoundâs ability to secure major pre-lets."
M3 and Savills represented British Land/Rosemound. Lambert Smith Hampton represented Tesco Stores.
Source: British Land